Homework: Chapter F:14 Homework Question 1, EF14-19 (similar to) Part 3 of 4 HW Score: 77.38%, 77.38 of 100 points Points: 9.38 of 16 Save Kemmer Company purchased a building and land with a fair market value of $575,000 (building, $400,000 and land, $175,000) on January 1, 2024. Kemmer signed a 25-year, 15% mortgage payable. Kemmer will make monthly payments of $7,364.78. Round to two decimal places. Explanations are not required for journal entries. Read the requirements. Requirement 2. Prepare an amortization schedule for the first two payments. (Round all numbers to the nearest cent.) Beginning Balance Principal Payment Interest Expense Total Payment Ending Balance 1/1/2024 $ 575,000.00 1/31/2024 $ 575,000.00 $ 2/28/2024 574,822.72 177.28 $ 7,187.50 $ 179.50 7,185.28 7,364.78 7,364.78 574,822.72 574,643.22 Requirement 3. Journalize the first payment on January 31, 2024. (Enter amounts to the nearest cent. Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 2024 Jan. 31 Help me solve this Etext pages Get more help Clear all Check answer